Markets continues to lose its shine - Nifty at sub-4550 levels
August 12th, 2008
Makets slipped a bit more in the last hour of trade with the Nifty now at the sub-4550 levels. NSE Nifty is at 4546.85 at 13:03 hrs. Bank and IT stocks are sliding downwards the most. Meanwhile the BSE Sensex is down over 300 points and is now at 15193 points. Bank and Metal sectoral indices are down by over 3% each.
Top Nifty losers include Maruti, Tata Steel (both down by 6% each), ICICI Bank, Tata Power, Infosys (all down over 4% each), HDFC, Sterlite Industries, Punjab National Bank, Cipla and State Bank of India (all down over 3% each)
The June Index for Industrial Production numbers are out and have been disappointing the markets. The industrial grown in June is 5.4% versus 8.9% (YoY).
1 U.S. dollar = 42.0698359 Indian rupees
Entry Filed under: Equity Markets
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